Problem 3-14 (Algo) (LO 3-3, 3-4) Herbert, Inc., acquired all of Rambis Company's outstanding stock on January 1, 2020, branco in cui al com amortization of $13,500 results from this transaction. On the date of the takeover, Herbert reported and wringet Rambis reported a $228,000 balance. Herbert reported internal net income di $62750 in 2020 e 55350 202 et second $10,000 in dividends each year. Rambis reported net income of $22.500 in 2020 and $34700 m 2121 and decond E.000 dividends each year. a. Assume that Herbert's internal net income figures above do not include any income from the subsidiary . If the parent uses the equity method, what is the amount reported as consolidated retained ternings on December 31, 2027 What would be the amount of consolidated retained earnings on December 3, 2021, teperete ledere value or partial equity method for internal accounting purposes? b. Under each of the following situations, what is the investment in Ramois account balance an Herberts boole on January 22? . The parent uses the equity method. The parent uses the partialaquity method. The parent uses the initial value method. c. Under each of the following situations, what is Entry "Can a 2021 consolidation workshort . The parent uses the equity method. The parent uses the partial equity method The parent uses the initial value method. Complete this question by entering your answers in the tabs below Required Required B Required A Assume that Herbert's Internal net income figures above do not include any come from the If the parent uses the equity method, what is the amount reported as conocido What would be the amount of consolidated retained earnings on December 1, 2021. The harder Initial value or partial equity method for internal accounting purposes c. Under each of the following situations, what is Entry "C on a 2021 consolidation worksheet? The parent uses the equity method. The parent uses the partial equity method. The parent uses the initial value method. Complete this question by entering your answers in the tabs below. Required Required B Required A Assume that Herbert's internal net income figures above do not include any income from the subsidiary If the parent uses the equity method, what is the amount reported as consolidated retained earings on Decembe What would be the amount of consolidated retained earnings on December 31, 2021, the parent had applied initial value or partial equity method for internal accounting purposes? Amounts Requind 3) Consolidated retained earnings (equity method) Consolidated retained earnings (initial value method) Consolidated retained earnings (partial equity method) Required A Book Air ach of the following situations, what is Entry "Con a 2021 parent uses the equity method. parent uses the partial equity method. parent uses the initial value method. mplete this question by entering your answers in the tabs below. Required Required B Required A Under each of the following situations, what is the Investment in Rambis account balance on Herbert's books on any 2021? The parent uses the equity method. The parent uses the partial equity method. The parent uses the initial value method. Investment Required) (Required A Equity method Partial equity method Initial value method 10 Next > (Prey MacBook Air by entering your answers in the tabs below. Required A Required B Required Under each of the following situations, what is Entry "Con a 2021 consolidation worksheet (if no estry's murder transaction/event, select "No journal entry required in the first account feld.) The parent uses the equity method. The parent uses the partial equity method. The parent uses the initial value method. view transaction list Consolidation Worksheet Entries 3 2
